US Treasury Embraces Venmo & PayPal for National Debt Donations—$36.7 Trillion Now Just a Tap Away
Your midnight pizza money could now 'technically' help chip away at America's mountain of debt.
The US Treasury just rolled out Venmo and PayPal integration for patriotic (or guilt-ridden) citizens to donate toward the $36.7 trillion national debt. Because clearly, the solution to generational fiscal irresponsibility is micropayments from millennials.
How it works: The 'Gift to Reduce the Public Debt' portal—yes, that's the actual name—now accepts digital wallet payments alongside credit cards and checks. No word yet on whether they'll add a 'round up your coffee purchases' option.
The cynical take: This reeks of performative austerity—like using a thimble to bail out the Titanic while the engine room keeps printing more water. But hey, at least it's easier than actually passing a balanced budget.
Debt surged nearly 90% since 2010
The current US national debt has surged by 87% since 2010, when it stood at $19.59 trillion. The Treasury Department has warned that ballooning deficits have placed America’s fiscal sustainability at risk. According to the Joint Economic Committee of Congress, the total debt grew at nearly $55,000 every second over the past year alone.
The donations may be entirely voluntary, but in the eyes of naysayers, those individual contributions, regardless of how many, cannot significantly alter the country’s downward looking fiscal trajectory.
“If every American donated $1,000 right now, it still wouldn’t make a meaningful dent,” said Shawn French, host of “The Determined Society” podcast. “This feels more like desperation than strategy.”
French said the US government’s plea is “a massive distraction” and “a last-ditch attempt” of asking the public to help bring down the debt, but the current administration does not have any viable structural reforms.
Samson Mow, CEO of Bitcoin technology firm JAN3, compared the program to “sending Bitcoin to a burn address,” an irreversible crypto transaction that results in token destruction.
The Treasury reiterated that the donation option is a chance for patriotic individuals to contribute to “Making America Great Again,” no matter how small the impact may be on the overall balance sheet.
Trump’s ‘Big, Beautiful Bill’ adds trillions to debt
The recently passed and signed legislation backed by President Donald Trump, referred to as the “Big, Beautiful Bill,” is expected to increase the national debt by $3.4 trillion over the next decade, according to projections by the nonpartisan Congressional Budget Office (CBO).
A contentious element of the now-passed law was the decision to raise the debt ceiling by $5 trillion, which several economic commentators, including Tesla CEO Elon Musk, were loudly unhappy about. The billionaire entrepreneur coined the law as “fiscally reckless.”
The Congressional Budget Office revealed on Monday that more than 10 million Americans will be uninsured under the provisions of the new law by 2034. This figure is a slight improvement over earlier projections that estimated 11.8 million WOULD lose health coverage over the next decade.
“Today’s report reminds us of something: facts are stubborn and the facts are clear,” remarked Senate Democratic Leader Chuck Schumer. “The big, ugly betrayal is a loser for the country and will be a loser for the Republicans.”
Conservative lawmakers have continued to defend the legislation, claiming it was necessary to pass it to prevent tax increases for millions of Americans. Supporters believe the US economy will outperform the CBO’s projections, generating greater tax revenues to narrow the deficit.
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